BEIJING, January 27. /Corr. Alexey Selishev/. The people’s Bank of China (the Central Bank) demanded that the number of Chinese banks operating in the special administrative region of China (SAR) Hong Kong, to suspend the issuance of loans in RMB. About it reports on Wednesday, the news portal Sina.
Experts: the devaluation of the yuan caused by the massive withdrawal of speculative capital abroad
“We were instructed to compress laneway a lot on the interbank market outside of China and to stop the issuance of short-term loans in the Chinese currency”, – said the Agency a source in the Central Bank of China.
The publication notes that last year the people’s Bank of China notice “abnormal” fluctuations in Yaneva offshore market. As a result, on 1 January of the current year, Chinese banks and companies have been instructed to suspend issue of credits, and January 11, prescribed to buy yuan.
Experts do not exclude that these measures due to increased outflow of capital from the country. According to Bloomberg, investors for 2015 withdrew from China $1 trillion, the highest rate for all history of observations. During the year, capital outflows from China increased by 8 times. Only for December, the country lost more money than in all of 2014 158,7 billion vs. $ 134.3 billion us dollars.